A Living Trust, which can either be revocable or irrevocable, is a Trust created during one’s lifetime and which is expected to take effect during that lifetime of the Settlor.
Unlike a Will, which comes into play only after demise, the living trust can start benefiting you while you are still alive hence, a Living Trust covers three aspects of a Settlor’s life: when the Settlor is alive and well, when the Settlor becomes incapacitated and when the Settlor dies. It basically ensures that your assets are managed and distributed according to your wishes and directives, without court supervision and involvement. This can save your beneficiaries time and money and also ensure that your assets and their values are not matters for public record.
Our Living Trust service ensures that assets of clients are transferred to their loved ones whilst they are still alive and that same is done without the delay and publicity associated with wills and probate.
The advantages of the service include:
- Probate is avoided
- Confidentiality is preserved
- A living trust can’t be easily challenged unlike a Will
- Speedy transfer of assets to heirs
- Management of your assets while alive and upon demise
- Safeguarding of assets and record keeping